Arlington, Va. –
Consumer confidence in the overall economy and in technology spending both
improved in November to the highest points of the year, according to the latest
figures released today by the
Consumer Electronics
Association (CEA).
For the fourth
straight month, the CEA Index of Consumer Expectations (ICE) improved in
November. The ICE, which measures consumer expectations about the broader
economy, rose six points to 173.1, reportedly reaching the highest level since
October 2009. The ICE is also up nearly eight points from this time last year,
CEA said.
“Consumers are
beginning to feel less pessimistic about employment as their overall economic
outlook improves,” said Shawn DuBravac, CEA chief economist and research
director. “While the labor market remains depressed, consumer sentiment is
rising.”
The CEA Index of
Consumer Technology Expectations (ICTE) also improved to its highest point
since December 2009. The ICTE, which measures consumer expectations about
technology spending, increased nearly seven points this month to 86.1. The
ICTE, however, remains down from the same time as last year.
“Expectations to
spend more on technology are up in November as consumers begin their holiday
shopping,” said DuBravac. “Consumers remain cautious, however, as they continue
to guard discretionary spending closely.”
The CEA Indexes
comprise the ICE and ICTE, both of which are updated on a monthly basis through
consumer surveys.
